The Power of Plain Text: Trading Systems and Organized Thoughts

Alessio Frateily

Hatched by Alessio Frateily

Oct 15, 2023

4 min read


The Power of Plain Text: Trading Systems and Organized Thoughts

In the fast-paced world of trading, having a reliable and effective strategy is essential. One popular strategy is known as the "bias" strategy, which analyzes recurring behaviors in a specific market. This strategy identifies optimal buying or selling times based on certain timeframes or days of the week. By leveraging the insights gained from recurring behaviors, traders can make more informed decisions.

To implement this strategy, traders can utilize software such as the Bias Finder™, developed by the Unger Academy®, which simplifies the evaluation of the historical average price movements of assets like Ethereum. By examining the price movements of Ethereum from 2018 to 2021, we can observe a recurring pattern. The trading day starts with a bearish trend that is promptly reversed in the late morning, around 11:00 am, and continues until the end of the session in a harmonious cycle of ups and downs.

Depending on the duration of a trade, there are three main categories of bias strategies: intraday, weekly, and monthly or seasonal. Each category caters to different trading styles and goals. The intraday strategy focuses on the price movements within the initial hours of the trading session, capitalizing on the observed bearish trend followed by a recovery in the late morning.

While trading strategies are crucial for success in the financial markets, it's equally important to have a system for organizing and managing one's thoughts, plans, and notes. For entrepreneur Derek Sivers, plain text files have become his go-to solution. He writes everything important in his life in plain text, from thoughts and plans to code and entire books. These plain text files serve as his extended memory, organized thoughts, and noted self.

The choice to use plain text files stems from their reliability, flexibility, and longevity. Unlike specialized formats offered by certain companies, plain text files can be read and edited by any device, including those that may not have been invented yet. This ensures that your written words will remain accessible and usable regardless of technological advances or changes in the market.

Relying on proprietary formats or tools can be risky, as companies may go out of business, rendering their formats unusable and leaving your work trapped. By adopting plain text files, you free yourself from dependency on specific software or subscriptions. The public domain offers numerous non-commercial software options for reading and editing text files, ensuring their accessibility even when offline or in situations where an internet connection is unavailable.

Being intentionally offline and unreachable can be a productivity boost, allowing you to focus without distractions. By having your writing stored in plain text files, you can access and work on them during these offline periods. In contrast, tools like Microsoft Word, Evernote, or Notion require their respective software to be accessible, making you dependent on them.

Some may argue that additional tools can enhance the writing experience, but Sivers believes that plain text files and a basic text editor are sufficient for great thinking and writing. The simplicity and lack of formatting options in plain text files prevent unnecessary tinkering and keep the focus on the content itself. If graphics are necessary, they can be stored alongside the plain text files in formats like SVG or scanned JPGs, which are not tied to any proprietary company formats.

The use of directories or folders aids in organizing and keeping text files together with other relevant files, such as images or audio. For those who require additional functionality, it is relatively easy to find or create scripts using languages like Ruby, Python, or JavaScript to automate tasks like categorizing, sorting, renaming, archiving, or exporting text files.

Ultimately, plain text files provide reliability, flexibility, portability, independence, and longevity. They can be converted into various formats like HTML, Markdown, JSON, or LaTeX, allowing for easy integration into different platforms or systems. Whether you are a trader analyzing market patterns or an entrepreneur organizing your thoughts, plain text files are a timeless solution that will outlast you and remain readable by future generations.

Actionable Advice:

  • 1. Embrace the power of plain text: Consider adopting plain text files for your important writings, whether it's trading strategies, personal notes, or creative pursuits. Enjoy the reliability, flexibility, and longevity they offer.
  • 2. Seek independence: Avoid relying on proprietary formats or tools that may become obsolete or inaccessible. Choose tools that allow you to access and work on your writings offline, ensuring productivity even in offline or low-connectivity situations.
  • 3. Leverage automation and organization: Explore scripting options or utilize existing tools to automate tasks and enhance organization. By categorizing, sorting, and archiving your plain text files, you can streamline your workflow and make information retrieval more efficient.

In conclusion, the combination of a reliable trading strategy and an organized system for managing thoughts and ideas can greatly enhance productivity and success. By leveraging the insights gained from analyzing market behaviors and adopting plain text files for important writings, traders and entrepreneurs can make informed decisions and create a lasting record of their experiences and knowledge. Embrace the simplicity and power of plain text, and let it be your tool for unlocking your potential in the world of trading and beyond.

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